China Industrial Production, Retail Sales Weaken On Covid Restrictions

China's industrial production declined unexpectedly in April reflecting not only the disruption caused by the Covid-19 lockdown, but also weaker foreign demand. Further, the decrease in retail sales worsened on weak household consumption. Industrial production dropped 2.9 percent on a yearly basis, reversing a 5.0 percent fall in March, data published by the National Bureau of Statistics showed.